Private client and trusts updates

Private client and trusts updates

After much anticipation, the Trusts Bill obtained Royal assent on 30 July 2019, the final stage in becoming an Act of parliament, and is now the Trusts Act 2019 (the Act). The Act makes important changes to trust law in New Zealand and replaces the ...

Residential land withholding tax (RLWT) came into effect on 1 July 2016. The RLWT regime is part of a suite of recent regulatory reforms that relate to residential property transactions. The reforms already in place include: The introduction of a "bright line" test which requires ...

Building and Housing Minister Dr Nick Smith announced on Thursday 9 July that the Government is proposing to amend the Residential Tenancies Act 1986 to improve rental standards and tenancy services. For many landlords the proposed changes will be significant. The proposed changes are: a ...

Yesterday Prime Minister John Key confirmed that this week's Budget will include a number of new tax rules for people buying and selling residential property. Most significantly, the rules will include: Requiring non-residents and New Zealanders buying and selling property (other than their main home) ...